Financial Aid Scenarios

Wheaton students represent a wide range of social and economic backgrounds. Each student's financial aid will be based on the family's need and a combination of grants/scholarships (if eligible) and loans.

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These are some examples of possible financial aid given to students.

 

 

 

 

 

 

Home State

Student 1

     MN

Student 2

      PA

Student 3

     CA

Student 4

      IL

Student 5

       IL

Parents' Finances

         

Adjusted Gross Income

 $97,500  $85,500  $145,000  $41,000  $164,000

Savings and Investments

 $37,500  $141,000  $50,000  $500  $15,000

Home Equity

 $220,000  $185,000  $80,000  $8,000  $217,000

Family Size

 5  4  3  5  4

Number of children in college

 2  1  1  1  2

Student ACT/SAT score

 1100  30  1400  1200  32

Student Unweighted High School GPA (4.0 scale)

 3.5  3.6  3.7  3.4  4
           

Total Direct Cost

 $42,150  $42,150  $42,150  $42,150  $42,150
           

Financial Aid Award

         

Merit-based Academic Scholarship

 $0  $2500  $5,000  $0  $5,000

Federal Need-based Grant

 $0  $0  $0  $6,850  $0

State Need-based Grant

 $0  $370  $0  $4,720  $0

Wheaton Institutional Grant

 $22,638  $13,618  $2,500  $18,453  $11,223

Total grant/gift aid

 $22,638  $16,488  $7,500  $30,023  $16,223

 

         

Direct cost after gift aid

 $19,512  $25,662  $34,650  $12,127  $25,927

Student Loan eligibility

 $7,500  $7,500  $5,500  $7,500  $5,500
           

Balance Due

 $12,012  $18,162  $29,150  $4,627  $20,427
           

Payments

         

Outside Scholarship

       -  $1,500        -  $500        -

Parent PLUS Loan

       -  $5,000  $10,000       -        -

Payment from savings

       -  $4,000        -  - -

Monthly Payments:
10-month Wheaton Installment Plan (WIP)


 $1,201

 $766

 $1,915

 $413

 $2,043

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